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OPEC's Use of Oil as a Weapon Against the U.S.

deficit characteristics of nations and global regions (Vesely, 2002). The United States also is vulnerable in an international relations context (Curtiss, 2002). The basis of the ultimate vulnerability, however, is the crude oil production and supply characteristics. Thus, this literature review focuses on the crude oil consumption/production surplus or deficit characteristic of nations and global regions.

2.2 Crude Oil Surplus and Deficit Patterns

The worldÆs dependence on energy sources, most of which are not located in areas where the consumption occurs, causes the locations of world energy reserves to be as crucial a concern as are the energy surplus and deficit characteristics of the international regions (Cole, 1997). Although the alteration of existing production and consumption patterns might be possible in an emergency, depending upon energy reserve characteristics, such a possibility is uncertain at best (Adelman,

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OPEC's Use of Oil as a Weapon Against the U.S.. (1969, December 31). In LotsofEssays.com. Retrieved 02:41, May 18, 2024, from https://www.lotsofessays.com/viewpaper/1711885.html